Algoma Central Corporation, a leading provider of marine transportation services, has announced that NovaAlgoma Cement Carriers Limited has acquired a 25% ownership interest in JT Cement, joining KGJ Cement Holdings AS and Erik Thun AB of Sweden in the cement company, which owns a fleet of seven smaller specialised pneumatic cement carriers.

The investment will develop NACC’s global footprint into the Northern European market where KGJ and Thun have already developed a strong presence.

“This investment will allow us to each apply our experience and knowledge in the pneumatic cement carrier market to create additional shipping solutions to meet the needs of customers,” said Ken Bloch Soerensen, President and CEO of Algoma Central Corporation. “We look forward to working with our new partners to create new opportunities for the JT Cement fleet.”

The vessels will continue to be commercially managed by the main office in Bergen, Norway.

“The addition of NACC to the ownership group of JT Cement will strengthen our team and provide opportunities for further growth in the Northern European region,” said Petter Tronstad, COO of KGJ Cement. “We welcome this opportunity to increase the flexibility available to our valued customers.”

You might also like

Unlocking the power of Artificial Intelligence and Machine Learning (AI/ML) is projected to drive the next generation of industrial manufacturing. Join Petuum for their webinar on AI/ML applications for cement manufacturing, which will include a real-world case study and its results. Register for free today »